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Hamamaoko Group
In this Group: Chido, Silibaziso, Kanyai
Greetings from Zimbabwe! This is 49-year-old Chido from Masvingo. Chido is married and has four children, one of whom attends school. Chido runs a food business selling sadza. The business has been in operation for three years. Chido says the main challenge she faces is the shortage of maize, especially in dry seasons when the cost is prohibitive.

Chido has requested a loan of 300 USD to buy maize and mopane worms (a Zimbabwean delicacy). She says the extra income generated as a result of this loan will go towards the purchase of a commercial stand. In the future, Chido plans to have her own stand rather than renting, which is expensive.

Additional Information

About MicroKing Finance

MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.

More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.

MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”

Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Zimbabwe

  • $400
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Hamamaoko Group's $1,000 loan helped a member to buy corn meal and mopane worms.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 27, 2013
Listed
Mar 5, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2013